Harte Gold Announces Completion of Sale Process to Silver Lake Resources

TORONTO, February 18, 2022 /CNW/ – HARTE GOLD CORP. (“Harte Gold“or the”Company“) announces that, in its proceedings for the protection of creditors under the Companies Creditors Arrangement Act, RSC 1985, c. C-36, as amended (the “CCAA“) and its previously announced sales and investment solicitation process, the Company has entered into the transactions (the “Transaction“) contemplated by this Subscription Agreement (as amended from time to time, the “Subscription contract“) with 1000025833 Ontario Inc. (the “Investor“), a subsidiary of Silver Lake Resources Limited (ASX: SLR). The Subscription Agreement has been approved by the Ontario Superior Court of Justice (Commercial List) (the “To research“) to January 28, 2022.

Following the completion of the transaction, pursuant to the subscription agreement and the court order, all previously issued and outstanding common shares of the company were canceled without consideration, and Harte Gold became a subsidiary wholly owned by the investor and emerged from the CCAA proceedings. In addition, all directors and senior officers of Harte Gold have resigned effective the closing. The Company would like to thank each of them for their stewardship in guiding the Company through this corporate transition.

Further information

Further updates will be provided as required. Copies of orders granted by the Court, as well as other information regarding the proceedings under the CCAA, are available on the Monitor’s website at http://cfcanada.fticonsulting.com/harte. A copy of the Subscription Agreement has been filed as an attachment to the Company’s Motion for Approval of the Subscription Agreement, which is also available on the Monitor’s website.

About Harte Gold Corp.

Harte Gold holds a 100% interest in the Sugar Zone mine located in White River, Canada. The Sugar Zone mine entered commercial production in 2019. The Company has additional potential through exploration on the Sugar Zone property, which comprises 81,287 hectares covering a significant greenstone belt.

Caution Regarding Forward-Looking Information:

This press release contains “forward-looking statements”, within the meaning of applicable securities laws, which are based on the opinions and estimates of management and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “budget”, “plan”, “continue”, “estimate”, “expect”, “anticipate”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “could”, “should”, “believe ” and similar words suggesting future results or statements about a prospect. Specific forward-looking statements contained in this press release include, but are not limited to, that the Company has additional potential through the exploration of the Sugar Zone property. Forward-looking statements are necessarily based on a number of estimates and assumptions, including significant estimates and assumptions relating to the factors set forth below which, although believed to be reasonable by the Company as of the date of this press in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. These risks and uncertainties include, but are not limited to, the risks and uncertainties related to the pending proceedings under the CCAA; the Company being unable to continue its activity; the risk that the Company does not have adequate sources of financing to finance the operations of the Company in the near future; the risk that the Company may not be able to obtain sufficient financing for working capital, capital expenditures, debt service requirements and general corporate or other purposes; the risk that the Company does not have sufficient assets to meet its commitments or satisfy its creditors; the Company’s ability to attract and retain qualified candidates to join the Company’s management team and board of directors, risks associated with the mining industry, including operational risks related to the exploration, development and production; delays or changes in plans for exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections regarding production, costs and expenses; the uncertainty surrounding the Company’s ability to obtain all permits, agreements, consents or authorizations necessary for its operations and activities; and health, safety and environmental risks, the risk of fluctuating commodity prices and exchange rates, Harte Gold’s ability to fund capital and operating expenditures necessary to achieve business objectives of Harte Gold, the uncertainty associated with business negotiations and dealing with contractors and other parties and the risks associated with international business activities, as well as other risks and uncertainties which are more fully described in the Company’s Annual Information Form dated March 30, 2021and in other documents filed by the Company with securities and regulatory authorities which are available on SEDAR at www.sedar.com. Due to the risks, uncertainties and assumptions inherent in forward-looking statements, prospective investors in the Company’s securities should not place undue reliance on such forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive. The forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to publicly update or revise the forward-looking statements or in any other documents filed with the Canadian securities authorities, whether whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. Forward-looking statements are expressly qualified by this cautionary statement.

The Toronto Stock Exchange has not reviewed and accepts no responsibility for the adequacy or accuracy of this press release.

SOURCE Harte Gold Corp.

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